Administrative Software - Bangladesh

The Administrative Software market in Bangladesh is expected to witness significant growth in the coming years.
By 2024, the revenue for this market segment is projected to reach US$20.56m.
This indicates a positive trend in the demand for administrative software solutions in the country.
Furthermore, it is anticipated that the market will continue to expand at a compound annual growth rate (CAGR) of 8.62% between 2024 and 2029.
This steady growth is expected to result in a market volume of US$31.09m by 2029, showcasing the increasing adoption of administrative software solutions in Bangladesh.
However, in a global comparison, United States is expected to generate the highest revenue in the Administrative Software market.
In 2024 alone, United States is projected to generate a substantial revenue of US$7.44bn.
This highlights the dominance of the United States in the global market and its significant contribution to the overall revenue generated in the Administrative Software market sector.
The adoption of cloud-based administrative software solutions is on the rise in Bangladesh, enabling businesses to streamline their operations and improve efficiency.

Definition:

The Administrative Software market covers software applications that are used to manage various administrative tasks and processes within an organization such as administration of IT infrastructure, standalone (non-ERP based) human resources management, and payroll management.

Products in the Administrative Software market can be obtained in two ways: as on-premises software that is sold via a transactional license or a subscription and as cloud-based software (software as a service/ SaaS) that is most frequently sold as a subscription.

Additional Information:

The Administrative Software market comprises revenue and revenue growth as the key performance indicators. Only revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included, and revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G).

Key players in this market include Workday, Intuit, and ServiceNow.

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Core HR-software, such as Personio, BambooHR, and RUN Powered by ADP
Payroll software, such as Paycor, Gusto, and Paychex
Learning & development software, such as Docebo and Adobe Learning Manager
Compliance software, such as SiteDocs, Skillcast, and Netwrix

Talent acquisition, such as Lever, Greenhouse, and Zoho Recruit
Workforce management, such as ADP Workforce Now, BambooHR, and Zoho People

The demand for administrative software in Bangladesh has been steadily growing in recent years.

Customer preferences: Bangladesh has a large and growing population of young, tech-savvy professionals who are increasingly reliant on technology to manage their personal and professional lives. This has led to a growing demand for administrative software that can help them streamline their work processes, manage their schedules, and collaborate more effectively with colleagues.

Trends in the market: One of the key trends in the administrative software market in Bangladesh is the growing popularity of cloud-based solutions. Cloud-based software is more affordable and accessible than traditional on-premise solutions, making it a popular choice for small and medium-sized businesses in the country. Additionally, there is a growing demand for mobile-friendly software that can be accessed from smartphones and tablets, as more and more professionals in Bangladesh rely on mobile devices to stay connected and productive.

Local special circumstances: Bangladesh is a rapidly developing country with a growing economy and a large population. However, the country also faces a number of challenges, including poor infrastructure, political instability, and a lack of access to capital for small businesses. These factors can make it difficult for companies in Bangladesh to invest in expensive administrative software solutions, which is why cloud-based solutions are becoming increasingly popular.

Underlying macroeconomic factors: The growth of the administrative software market in Bangladesh is being driven by a number of macroeconomic factors, including the country's rapidly expanding economy, its young and tech-savvy workforce, and the increasing availability of high-speed internet and mobile devices. Additionally, the government of Bangladesh has been investing heavily in improving the country's digital infrastructure, which is helping to drive the adoption of administrative software solutions across the country.

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.

Forecasts:

We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

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